Another dire week for the metals

Whilst the broader US capital markets continued to climb (not least in terms of confidence), there was further weakness in the precious metals. Gold and Silver saw very significant net weekly declines of -1.2% and -3.9% respectively.


GLD, weekly

SLV, weekly

Summary

Suffice to say.... dire.

Silver has taken out the 2013 low (SLV 17.75)... Gold looks set to follow, whether in the current multi-week down cycle.. or the next.
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Broader targets remain the same... and they have grave implications for the mining stocks.
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Always worth seeing... Silverfuturist



One of the few who remains balanced on the precious metals.